Economy
China's February Inflation Accelerates, Adding Pressure for Stimulus Exit China’s inflation reached a 16-
month high, industrial output climbed and new loans exceeded
forecasts, adding to the case for the government to pare back
stimulus measures.
Greece Paralyzed by Strikes as Unions Protest Against Plan to Cut Deficit Greece’s hospitals, airports and
schools were shut today as unions stage the second general
strike this year to protest Prime Minister George Papandreou’s
latest budget cuts to curb the European Union’s biggest deficit.
Feldstein Says Euro's Declines Are a Result of `Panic Selling' Over Greece Harvard University Professor Martin
Feldstein said the euro’s 4.6 percent decline against the dollar
this year has been “panic selling” stemming from the financial
crisis in Greece.
Japan Fourth-Quarter GDP Expands 3.8%, Revised From 4.6% Reported Earlier Japan’s economy expanded less than
initially estimated in the fourth quarter as companies pared
spending and stockpiles as deflation deepened.
Swiss Central Bank May Keep Key Rate Unchanged As Economy Gains Strength The Swiss central bank may leave
its benchmark interest rate near zero today to bolster a
recovery from the worst recession in more than three decades.
Australia Employment Rises Less-Than-Estimated; Jobless Rate Gains to 5.3% Australian employers added the
fewest jobs in six months in February, suggesting the central
bank has room to slow the pace of future interest-rate increases.
Bank of Korea's Lee Keeps Benchmark Rate Unchanged at 2% at Final Meeting Bank of Korea Governor Lee Seong
Tae kept interest rates unchanged at his final meeting, leaving
it to his successor to address political pressure to stoke
economic growth.
ECB's Mersch Says European Monetary Fund Discussion Is Driven by `Fantasy' European Central Bank council
member Yves Mersch said the discussion about a European Monetary
Fund is being driven by “fantasy.”
Brazil Prosecutors Seek Tax Probe Against Central Bank President Meirelles Brazil’s Prosecutor General asked
the Supreme Court to pursue an investigation into alleged tax
crimes by Central Bank President Henrique Meirelles, according
to the high court’s docket posted on its Web site.
Malaysia Industrial Output Rose in January for Second Month Amid Recovery Malaysia’s industrial production
climbed for a second month in January, underscoring an economic
recovery that has led the central bank to raise interest rates
ahead of most other Asian nations.
Latvia Elections May Hamper Austerity, Weigh On Credit Rating, Fitch Says Latvian elections this autumn
threaten to hamper government efforts to push through austerity
measures vital to its international bailout, burdening the
country’s credit rating, Fitch Ratings said.
Sack Says Fed Selling Assets Would Risk Sudden Increase in Long-Term Rates Brian Sack, the New York Federal
Reserve Bank’s markets chief, said shrinking the central bank’s
$2.3 trillion balance sheet quickly through sales of assets
risks a sudden rise in long-term interest rates.
New Normal Becomes Old Normal With Exports Spurring Growth in New U.S. Mix The “new mix” is out to topple the
“new normal” as the paradigm for America’s economic future.
Fed `Extended Period' Pledge Faulted as Inflexible by Four Policy Makers The Federal Reserve’s pledge to
keep interest rates close to zero for an “extended period” has
come under criticism from policy makers who say it’s restricting
their room to maneuver as the economy recovers.
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